State of Digital Sales and Engagement in Banking

Data, advanced analytics and artificial intelligence will be at the foundation of consumer engagement
PRNewswireMay 20, 20235 min

Alkami Technology, Inc. (“Alkami”), a leading cloud-based digital banking solutions provider for banks and credit unions in the U.S., today announced the release of the Banking Transformed White Paper, “State of Digital Sales and Engagement in Banking.” The Alkami-commissioned report examines how financial institutions can increase engagement across the entire account holder journey to drive growth.

Authored by financial industry strategist and influencer, Jim Marous, and based on a Digital Banking Report survey of global banks and credit unions, the report found that while financial institutions want to sell products and services to consumers, they continue to contend with the accelerated digitization of channels and how to adapt to interact with account holders.

Key findings include:

  • The mobile banking app remains an opportunity – Still not universal, only 72% of banks and credit unions use the mobile banking app channel for selling.
  • Adoption of conversational AI will continue to increase – As the technology becomes more sophisticated and widely used by consumers over the next 3-5 years, financial institutions will employ AI to help with increasingly complex tasks, such as financial planning and investment advice. Over 50 percent of respondents believe implementations will be ‘effective’ or ‘very effective’ beyond the 5-year time frame.
  • Data and advanced analytics are key to driving growth – Financial institutions must move from reactive to real-time communication as quickly as possible. The power of data, advanced analytics, and AI will be at the core of consumer engagement.

“Our research shows that in order to build digital engagement and achieve selling success across the entire account holder journey, financial institutions must deliver hyper-personalized advice, contextualized product offerings, and suggested actions to account holders using the communication channel(s) they prefer,” said Marous. “The most future-ready organizations will be the ones who can integrate selling on the mobile banking app at speed and scale.”

Allison Cerra, chief marketing officer for Alkami, added, “With the convergence of technology and account holder expectations, leading financial institutions are rewriting the rules of engagement. They are prioritizing consumer convenience, communication, and experience by utilizing data and insights to forge meaningful connections across online and offline channels.”

The report also provides an update to Marous’ list of 7 Common Sense (and Overlooked) Ways to Increase Engagement and Sales, which highlights cross-selling techniques in a world transformed by digital technologies.

Fintech News – The Latest News in Financial Technology.



We are one of the world’s leading Fintech-based media publication with our content strategized and synthesized to fit right into the expanding ecosystem of Finance professionals. Be it fintech live news, finance press releases, tech articles from Fintech evangelists or interviews from top leaders from global fintech firms, we give the best slice of knowledge topped up with the aptest trends. Our sole mission is to help tech and finance professionals step up with the rapidly emerging Fintech civilization and gain better insights to emerge victorious in every possible way. We adopt a 360-degree approach in order to cater to present a holistic picture of the fintech arena.

Our Publications

FintecBuzz, 2024 © All Rights Reserved